Registration in GST. By CA Shafaly Girdharwal Mobile:
|
|
- Agatha Henry
- 6 years ago
- Views:
Transcription
1 Registration in GST By CA Shafaly Girdharwal Mobile:
2 Schedule for enrolment under GST
3 Why enrolment? No Provisional registration certificate will be issued to the existing registaered person unless they complete the enrolment process
4 What is enrolment Enrolment is pre exercise by GSTIN to ensure that the entire data on portal is updated much before the applicability of GST Act Enrolment will ensure the smooth transition from existing system to GST regime User will be able to get convrsent with the new system as they will be able to access it much before it is required.
5 What is enrolment: How Maharastra has implemented the process Step-1: Go to the MSTD website Step-2: Login there with your existing login ID and password Step-3: Click on e- services Step-4: Click on GST enrolment Step-5: Pop up will appear asking whether dealer wishesh to access provisional ID credentials. Step-6: On selecting yea a form will appear. shaifaly.ca@gmail.com
6 What is enrolment: How Maharastra has implemented the process Step-7: The form will contain the following fields 1 Name of Dealer (Un editable) 2 (Editable) Existing ID will be auto populated 3 Mobile number (Editable) Existing Mobile number will be auto populated shaifaly.ca@gmail.com
7 What is enrolment: How Maharastra has implemented the process Step-8:Accept the declaration by clicking the check box given below the form. Step-9: Click on submit button. Step-10: A message will flash having two links. First will be to download the acknowledgement. Second will be the link of login page of GST portal. shaifaly.ca@gmail.com
8 Which information is required to enrol with GST
9 When I need to file return and pay taxes Any person going for enrolment is not required to file any return or pay any taxes before the applicability of GST Law GST registration can be cancelled if the taxpayer don t file returs for a continuos period of six months. Provisional registration certificate will be issues only on appointed date. shaifaly.ca@gmail.com
10 Use of E-sign Electronically signing of enrolment application using DSC is mandatory for: Companies Foreign companies Limited liability partnership (LLP) Foreign limited liability partnership (FLLP s) Other can use E-sign to sign the documents for registration.
11 Use of E-sign What is E- sign? How does it work? E- sign stands for electronic signature. It is an online electronic signature service that allows an Aadhaar holder to digitally sign a document. If the taxpayer opts to electronically sign the enrolment application or any other document at the GST common portal using the e- sign services. shaifaly.ca@gmail.com
12 Basic provisions for registration under GST model Law Chapter VI, Section 19 Chapter VI section 23 of New GST model law covers the provisions for registration: Every person who is liable to be registered under Schedule III Schedule V of this Act shall apply for registration in every such State in which he is so liable within thirty days from the date on which he becomes liable to registration, in such manner and subject to such conditions as may be prescribed. shaifaly.ca@gmail.com
13 Basic provisions for registration under GST model Law Provided that: A Casual Taxable person A non resident Shall apply for registration at least five days prior to the commencement of business. shaifaly.ca@gmail.com
14 Registration under GST: Basic provisions 1) Person required to be registered given in Schedule III Schedule V shall register within 30 days of being liable for registration. 2) A person having multiple business verticals can in a state may obtain separate registrations.otherwise there will be only one registration in every state. business vertical shall have the meaning assigned to a business segment in Accounting Standard 17 issued by the Institute of Chartered Accountants of India.
15 Registration under GST: Basic provisions 6) Suo moto registration by proper officer 7) Specialized agency of United Nations Organisation, Multilateral Financial Institution or organisation notified under United Nations, Consulate, embassy or any other notified person may apply for UIN for the purpose notified including refund of taxes paid on supplies received by them. 8) Deemed registration if no communication in prescribed time. 9) Rejection of application/uin in CGST/SGST Act shall be deemed to be rejection of application in SGST/CGST Act. 10) Grant of registration/uin in CGST/SGST Act shall be deemed to be grant under SGST/CGST Act provided that application is not rejected under said Act.
16 Registration under GST: Schedule III Schedule V a) Where to take registration (Fresh registration) -In every state -From where -The supplier -Is making the taxable supply -and aggregate turnover exceeds Rs.20 Lacs for normal states -Rs.10 lacs in special category states and - states covered in Article 279A (4) (g)
17 Registration under GST: Schedule III Aggregate turnover as defined in the MGL to include -taxable supply -non-taxable supply -exempt supplies -export of Goods and/or services -inter state supplies of a person having same PAN to be computed on all India basis -excludes taxes paid under GST and -Supplies on which tax has been paid under reverse charge.
18 Registration under GST: Schedule III Threshold limit will also include: (same) -Supplies made by a person on behalf of his principals will also be considered for threshold limit. -Supply of goods by a registered job worker shall be included in turnover of principal.
19 Registration under GST: Schedule V Following persons are not liable to take registration a) Any person engaged exclusively in the business of supplying Goods and/or services that are not liable to tax or are wholly exempt from tax under this Act. b) A agriculturist for the purpose of agriculture.
20 Registration under GST: Schedule V: Registration without threshold limit a) Registration without threshold limit: a. Persons making inter-state taxable supply b. Casual taxable persons casual taxable person means a person who occasionally undertakes transactions involving supply of goods and/or services in the course or furtherance of business whether as principal, agent or in any other capacity, in a taxable territory where he has no fixed place of business. c. Persons covered in reverse charge d. Persons who are required to pay tax u/s 8(4)
21 Registration under GST: Schedule V: Registration without threshold limit Section 8(4) (relevant portion) categories of services the tax on which shall be paid by the electronic commerce operator if such services are supplied through it, and all the provisions of this Act shall apply to such electronic commerce operator as if he is the person liable for paying the tax in relation to the supply of such services. PROVIDED that where an electronic commerce operator does not have a physical presence in the taxable territory, any person representing such electronic commerce operator for any purpose in the taxable territory shall be liable to pay tax. PROVIDED FURTHER that where an electronic commerce operator does not have a physical presence in the taxable territory and also he does not have a representative in the said territory, such electronic commerce operator shall appoint a person in the taxable territory for the purpose of paying tax and such person shall be liable to pay tax
22 Registration under GST: Schedule V: Registration without threshold limit e. Non-resident taxable persons f. Person required to deduct tax u/s 37 U/s 46 whether or not seperately registered under the Act. g. Persons who are required to collect tax under 56, whether or not seperately registered under the Act. h. Person who supply Goods and/or services on behalf of other taxable persons whether as an agent or otherwise i. Input services distributor, whether or not seperately registered under the Act. j. Persons who supply the goods and/ or services, other then supplies specified under section 8(4), through such electronic commerce operator who is required to collect tax at source u/s 56. k. Every electronic commerce operator
23 Registration under GST: Schedule V: Registration without threshold limit l. Every person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person. m. Such other class of persons as may be notified by the central government or state government on the recommendation of Council.
24 Basic provisions for registration under GST model Law Section 23(3) Voluntary registration: A person, though not liable to be registered under Schedule III, may get himself registered voluntarily, and all provisions of this Act, as are applicable to a registered taxable person, shall apply to such person. Section 18(2) provide that A person who take registration u/s 23(3) will be eligible for input tax in respect of inputs held in -Stock -Semi finished stock -Finished stock On the day immediately preceding the date of grant of registration. shaifaly.ca@gmail.com
25 Why voluntary registration? Section 16(2) Section 18 (1) A person who has applied for registration under the Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall, subject to such conditions and restrictions as may be prescribed, be entitled to take credit of input tax in respect of inputs held in stock inputs contained in semi finished Goods inputs contained in finished goods held in stock on the day immediately preceding the date from which he becomes liable to pay tax under the provisions of this Act. shaifaly.ca@gmail.com
26 Why voluntary registration? What is input? Section 2(54) 2(52) of GST Model Law provides for definition of Input. input means any goods other than capital goods, used or intended to be used by a supplier in the course or furtherance of business. shaifaly.ca@gmail.com
27 Why voluntary registration? L n T is going to start a rice mill Cost of machinery: 50 Lacs Cost of Plant : 20 Lacs It starts installation of its plant on 31 st march 2018 and procured all the plant and machinery on payment of applicable GST. It start production on say 30 th June 2018 and its supply exceeds the turnover limit of Rs. 20 lac on 15 th July. It applies for registration and get registration on 19 th July. What credit will be available to it? Credit of tax on inputs held in 1) Stock 2) semi finished goods 3) Finished Goods. shaifaly.ca@gmail.com
28 Why voluntary registration: Planning In this case the ITC in respect of capital goods will not be available. This will be a heavy amount. But if the tax payer goes for the voluntary registration before the procurement of machinery he will be able to claim the input tax credit in respect of GST paid on Capital Goods also. It is advisable to take voluntary registration in case of big projects having big capital expanses. shaifaly.ca@gmail.com
29 Which form I need to file Type of Applicant Form All applicants Except 1) Non-resident,2) Tax deductor and person required to collect tax GSTREG-01 Tax deductor or a person required to collect tax at source GSTREG-07 Special entities applying for UIN GSTREG-09 Non-resident taxable person GSTREG-10
30 Which form I need to file Activity Application form Form GSTREG- 01,07,09,10 Acknowledgement GSTREG-02 Notice for Seeking Additional Information / Clarification/ Documents relating to Application for <<Registration/Amendment/Cancellation>> GSTREG-03
31 Which form I need to file Activity Application for filing clarification/additional information/document for <<Registration /Amendment/Cancellation/Revocation of Cancellation>> Form GSTREG-04 Order of Rejection of Application for <Registration / Amendment / Cancellation/ Revocation of Cancellation>> GSTREG-05 Registration Certificate GSTREG-06
32 Registration under GST: Process of registration: Migration Process for Migration Provisional registration: Every person registered under an earlier law and having a Permanent Account Number shall be granted registration on a provisional basis and a certificate of registration in FORM GST REG -21, incorporating the Goods and Services Tax Identification Number (GSTIN) therein, shall be made available on the Common Portal. Application in FORM GST REG 20: Every person who has been granted the provisional registration shall submit an application electronically in FORM GST REG 20 duly signed along with documents specified in such form within the time limit of section 142 i.e six months from the issue of certificate of provisional registration.
33 Registration under GST: Process of registration: Migration Process for Migration Grant of registration in FORM GST REG-06: If the information and particulars are found to be correct by proper officer he may grant registration in FORM GST REG-06. It will be made available to the registered taxable person electronically on the common portal. Cancellation of provisional registration: When the particulars and/or information required is found to be incorrect or incomplete the proper officer shall cancel the provisional registration granted. This cancellation will be in FORM GST REG-22. An opportunity of being heard will be provided to applicant in FORM GST REG-23.
34 Registration under GST: Process of registration: Migration Process for Migration Application for cancellation of provisional registration: Every person registered under any of the earlier laws, who is not liable to be registered under the Act may, at his option, file electronically an application in FORM GST REG-24 at the Common Portal for cancellation of the registration granted provisionally to him and the proper officer shall, after conducting such enquiry as deemed fit, cancel the said provisional registration.
35 Registration under GST: Process of Fresh registration Process for fresh registration Basic details in part A of FORM GST REG-01: Will be verified via OTP Mobile number: Will be verified via separate OTP. PAN: Will be matched with the data base of CBDT After this verification applicant will be able to fill part B of the form
36 Registration under GST: Process of Fresh registration Process for fresh registration An Acknowledgement will be issued electronically on receipt of application Proper officer will grant registration within 3 days if he found any discrepancy he may intimate the same within three days in form GST REG03 electronically. On receipt of intimation in Form GST REG03 applicant shall provide the information required in Form REG04 within 7 days of intimation. If the proper officer is not satisfied with in information, clarification provided he may cancell the application in form GST GST REG-05. If the proper officer is satisfied with the information provided he may grant the registration within 7 days of such information in Form GST REG 06.
37 Registration under GST: Process of Fresh registration Application in FORM GSTREG- 01 ACKNOWLEDG EMENT in FORM GSTREG-02 Information in FORM GSTREG-03 Within 3 days Reply in FORM GSTREG-04 Within 7 days Reject in FORM GSTREG-05 Or Registration in FORM GST REG-06
38 Registration under GST: Casual Taxable person and Non Resident 1) Casual Taxable person/non-resident taxable person. a. Initial registration for lesser of ninety days or period in application b. Advance payment of estimated tax liability. c. Extension up to ninety days. d. Advance payment of estimated liability of extended period. E. Casual taxable person will apply in GST REG 01 whereas Non resident will apply in GST REG10
39 Registration under GST: Amendment of registration There will be two classes for amendments. In first case we will be able to edit them online in the second case we need to file an application to proper officer: Application to proper officer He may reject or accept amendments Taxpayer shall be given an opportunity of being heard
40 Registration under GST: Cancellation of registration a. By own motion i. Where the taxpayer has contravened such provisions of the Act as may be prescribed. ii. Person paying tax u/s 8 has not file returns for three consecutive tax periods iii. Person other than above has not filed the returns for consecutive six months iv. Any person who has taken voluntary registration has not commenced business within six months from the date of registration.
41 Registration under GST: Cancellation of registration b. On an application filed by registered taxable person i. Where the business has been discontinued ii. Transferred iii. There is a change in constitution of business iv. The person liable to be registered in schedule III is no longer liable to be registered. C. On an application filed by legal heirs in case of death of such person
42 Registration under GST: Cancellation of registration The cancellation under CGST/SGST Act shall be deemed to be a cancellation of registration under SGST/CGST Act Reversal of Credit for input: When the registration is cancelled the taxable person shall pay an amount by way of debit in ledger an amount equivalent to the credit of input tax in respect of inputs held in stock and input contained in semi-finished and finished stock. Reversal of credit for capital goods: In case of capital goods higher of the following will be payable by taxpayer: 1) Input tax credit taken on the said capital goods reduced by the percentage points; or 2) Tax on the transactional value of such asset.
43 Thanks for patient listening
Registration in GST. By CA Shafaly Girdharwal Co- Founder at Partner at CA Ashu Dalmia & Associates
Registration in GST By CA Shafaly Girdharwal Co- Founder at WWW.consultease.com Partner at CA Ashu Dalmia & Associates Schedule for enrolment under GST WWW.Consultease.com WWW.Consultease.com shaifaly.ca@gmail.com
More informationRegistration. Chapter IV FAQS. Registration (Section 22 to 30)
Chapter IV Registration FAQS Registration (Section 22 to 30) Q1. If a person is operating in different states, with the same PAN number, can he operate with a single Registration? Ans. No. Every person
More informationRegistration. Chapter IV. FAQ s. Registration (Section 22 to 30)
Chapter IV Registration FAQ s Registration (Section 22 to 30) Section 22 to 30 of the CGST Act, 2017 made applicable to IGST vide Section 20 of the IGST Act, 2017 and UTGST vide Section 21 of the UTGST
More informationREGISTRATION. AKOLA Branch of WIRC of ICAI. CA. Dhiraj C Baldota Solapur. June 17, 2017
REGISTRATION June 17, 2017 AKOLA Branch of WIRC of ICAI CA. Dhiraj C Baldota Solapur EXCISE / SERVICE TAX / VAT and on. take taxes but reduce compliance. a smooth n healthy act???? Why Liability to Register
More information[Chapter VI] Edition NBC, Chartered Accountants and member of Allinial Global Accounting Association. All Rights Reserved.
[Chapter VI] Edition 6 Contents Persons liable for Registration [S. 22] Persons not liable for Registration [S. 23] Compulsory Registration In Certain Cases [S. 24] Procedure for Registration [S. 25] Deemed
More informationGST - Registrations: Law and Business Processes
GST - Registrations: Law and Business Processes by Keval Shah June 14, 2017 at National Conference on GST Chennai Agenda Categories of Persons required to be registered Time limits for Registration Procedure
More informationCopyright GSTFORCE.COM
Copyright GSTFORCE.COM GST Registration shall start on 8.11.2016* at www.gst.gov.in. Assesses with verified PAN shall be allowed to fill details & submit proofs. All the taxpayers registered under any
More informationRegistration Law & Procedures (Including Transition)
Registration Law & Procedures (Including Transition) 1 Coverage and relevant provisions Coverage Legal Provisions Rules Registration process Migration Law and Rules Migration Steps Provisions: 1. GST Model
More informationInput Tax Credit. Issues with possible solutions (including cancellation, opt for composition) and other aspects. CA Venugopal Gella
Input Tax Credit Availment, Migration Restrictions, to GST Jobwork and other aspects Issues with possible solutions (including cancellation, opt for composition) ICAI Webcast < http://estv.in/icai/08082017/>
More informationRegistration. Chapter VI
Chapter VI Registration Statutory provision 22. Persons liable for registration (1) Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category
More information[To be published in the Official Gazette of India, Extraordinary, Part II, Section 3, Subsection
[To be published in the Official Gazette of India, Extraordinary, Part II, Section 3, Subsection (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification
More informationCentral Goods and Services Tax (CGST) Rules, 2017
Central Goods and Services (CGST) Rules, 2017 Notified vide Notification No. 3 /2017-Central (Dated 19 th June 2017) and further as amended by Notification No. 7/2017-Central (Dated 27 th June 2017), Notification
More informationREGISTRATION & RETURN PROCESS UNDER GOODS AND SERVICES TAX (GST) By CA Sandip Agrawal Sandip Satyanarayan & Co Chartered Accountants
REGISTRATION & RETURN PROCESS UNDER GOODS AND SERVICES TAX (GST) By BRIEF INTRODUCTION TO GST GST is a Tax on Goods and services and it is proposed to be a comprehensive indirect tax levy on manufacture,
More informationOverview of Enrolment
11/8/2016 Who is an existing taxpayer? Overview of Enrolment 1. Who is an existing taxpayer? An existing taxpayer is an entity currently registered under any State or Central laws, like Value Added Tax
More informationThe Empowered Committee of State Finance Ministers have worked out a dual GST model for India. In
GST is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as on the services at a national level. In an utopian situation, the tax has to be a singular
More informationPROPOSED REGISTRATION PROCESS. 29 th October, 2015 Chennai
PROPOSED REGISTRATION PROCESS 29 th October, 2015 Chennai Registration of Taxable Persons under 2 GST To give a unique identification to every taxable person Link all GST related transactions of every
More informationBUSINESS PROCESSES ON GST REGISTRATION
Content provided by Mr. Vineet Bhatia, Advocate BUSINESS PROCESSES ON GST REGISTRATION This report focuses on the registration process and how to grant the registration on an automated basis, with least
More informationFilling of GSTR 2 on GST Portal
Webinar on Filling of GSTR 2 on GST Portal 06/09/2017 Presented By Rajeev Agarwal, IRS, SVP, GSTN in collaboration with NeGD (National E Governance Division) Digital India & My Gov Portal 1 Acknowledgements
More informationAnalysis of draft Composition Rules:
of draft Composition Rules: Rule 1 Intimation for CMP- 01 Any person who has been granted registration on a provisional basis under sub-rule (1) of rule Registration.16 and who opts to pay tax under section
More informationGOODS AND SERVICE TAX FILING OF RETURN. Prepared by Dharmendra Academy of GST Awareness
GOODS AND SERVICE TAX FILING OF RETURN 1 Returns Chapter IX of the CGST/SGST Act, 2017 GST Return Rules, 2017 2 RETURNS: SALIENT FEATURES A return is a statement of specified particulars relating to business
More informationTransitional Provisions
FAQ s Migration of Existing Tax Payers (Section 139) Similar provisions have been specified in the UTGST Act, 2017 Chapter XVIII Transitional Provisions Q1. What is the primary condition for provisional
More informationVAT CONCEPT AND ITS APPLICATION IN GST
CONTENTS DIVISION 1 INPUT TAX CREDIT 1 VAT CONCEPT AND ITS APPLICATION IN GST 1.1 Background of VAT 3 1.2 Basic Concept of VAT 4 1.2-1 VAT to avoid the cascading effect 5 1.2-2 Input Tax credit system
More informationGST: FREQUENTLY ASKED QUESTIONS [FAQS] FOR COMPOSITION SCHEME
Q 1. What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs (Rs. 50 lakhs in case of few
More informationCENTRAL BOARD OF EXCISE & CUSTOMS
CENTRAL BOARD OF EXCISE & CUSTOMS GST Migration: Workflow www.cbec.gov.in www.aces.gov.in GSTN Enrollment Process 1 2 3 Taxpayer obtains GSTN login id and password from aces.gov.in Taxpayer completes enrollment
More informationChapter - RETURNS. 1. Form and manner of furnishing details of outward supplies
Chapter - RETURNS 1. Form and manner of furnishing details of outward supplies (1) Every registered person (other than a person referred to in section 14 of the Integrated Goods and Services Tax Act, 2017)
More informationBeginners Course on GST (Registration, Returns, Payment & Documentation) organised by WIRC 3rd October Presenter CA Mandar Telang
Beginners Course on GST (Registration, Returns, Payment & Documentation) organised by WIRC Presenter CA Mandar Telang 1 Registration 2 Registration Legal Framework v Taxable Person means a person who carries
More informationCancellation of Registration
Cancellation of Registration How can I file for cancellation of GST registration? To file for cancellation of GST registration, please perform the following steps: 1. Visit the URL: https://www.gst.gov.in.
More informationFilling of GSTR 2 on GST Portal and Offline tool
WebEx on Filling of GSTR 2 on GST Portal and Offline tool 12/10/2017 Presented By GSTN Team 1 Agenda for Webinar on 11/10/2017 Overview of GSTR 2A Overview of GSTR 2 Instructions to fill GSTR 2 Demo of
More informationISSUES IN COMPOSITION SCHEME UNDER GST PGS & ASSOCIATES
ISSUES IN COMPOSITION SCHEME UNDER GST PGS & ASSOCIATES DEFINITIONS:- Aggregate Turnover means the aggregate value of all taxable supplies, exempt supplies, exports of goods or services or both and Inter-State
More informationCHAPTER--- REGISTRATION
CHAPTER--- REGISTRATION 1. Application for registration (1) Every person (other than a non-resident taxable person, a person required to deduct tax at source under section 51, a person required to collect
More informationTransitional Provisions
Chapter XX Transitional Provisions Statutory provision 139. Migration of existing Tax Payers to GST Section (1) On and from the appointed day, every person registered under any of the existing laws and
More informationFrequently Asked Questions on Composition Levy
Frequently Asked Questions on Composition Levy Q 1. What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is
More informationProcedures under GST BY CA LAKSHMI G K. Hiregange & Associates
Procedures under GST BY CA LAKSHMI G K 1 Coverage Procedure to register under GST Procedure to supply goods Books of accounts to be maintained under GST Procedure to pay GST Procedure to file returns under
More informationComposition Levy Under GST- A Boon or Bane
Composition Levy Under GST- A Boon or Bane INTRODUCTION T he appointed date for Goods and Services Tax Law (GST Law or GST) role out is 1st of July, 2017. GST Law will affect, directly and indirectly,
More informationGST MSME SECTORAL SERIES CENTRAL BOARD OF EXCISE & CUSTOMS. Directorate General of Taxpayer Services. Follow
GST SECTORAL SERIES MSME Directorate General of Taxpayer Services CENTRAL BOARD OF EXCISE & CUSTOMS www.cbec.gov.in Question 55: Whether a registered person under the composition scheme needs to learn
More informationGOODS & SERVICES TAX UPDATE 2
GOODS & SERVICES TAX UPDATE 2 CENTRAL GOODS & SERVICES TAX (CGST) Amendments in CGST Rules, 2017on Registration and Composition levy Central Government vide Notification No. 07/2017-Central Tax, dt. 27-06-2017
More informationAssociation of Mutual Funds in India Goods and Services Tax - FAQs for Distributors October 2017
Association of Mutual Funds in India Goods and Services Tax - FAQs for Distributors October 2017 Page 1 of 12 Table of Contents Introduction to GST... 3 Registration... 4 Place of Supply & Levy of GST...7
More information28 September Draft Goods & Services Tax Rules on Registration, Invoice, Payment, Return and Refund. Dimensions - GST Edition
28 September 2016 Dimensions - GST Edition Moving fast track to meet the April 2017 deadline for implementation of GST, the Government has come out with draft rules and their formats relating to registration,
More informationGoods and Services Tax
Association of Mutual Funds in India Goods and Services Tax FAQs June 2017 Page 1 of 11 Table of Contents Introduction to GST... 3 Registration... 5 Place of Supply & Levy of GST...7 Input tax credit...
More informationName What does it relate to When to be filed
Name What does it relate to When to be filed GSTR-1 GSTR-2 GSTR-3 Outward Supplies made for a month by a regular taxpayer Inward Supplies made for the month by a regular taxpayer Consolidated return by
More informationMODEL GST LAW. CA. UPENDER GUPTA, IRS COMMISSIONER (GST), CBEC
MODEL GST LAW CA. UPENDER GUPTA, IRS COMMISSIONER (GST), CBEC upender.gupta@nic.in PRESENTATION PLAN BASIC FEATURES HIGHLIGHTS OF MODEL GST LAW (MGL) MINIMAL HUMAN INTERFACE GST A GAME CHANGER 2 BASIC
More informationCOMPOSITION LEVY DISCLAIMER: Threshold limit for Composition scheme: Act
COMPOSITION LEVY DISCLAIMER: The views expressed in this article are of the author(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the author(s).
More informationInput tax credit under GST regime
Input tax credit under GST regime 1 ü Matching, Reversal and Reclaim of Input tax credit ü Availability of credit in certain special circumstances CA V Vijay Anand PART A 2 Matching, Reversal and Reclaim
More informationFILING OF RETURNS UNDER GST INCLUDING MATCHING OF INPUT TAX CREDIT
FILING OF RETURNS UNDER GST INCLUDING MATCHING OF INPUT TAX CREDIT DRAFT RETURN FORMS FORM NO DETAILS 1. GSTR 1 Details of outward supplies of taxable goods and/or services effected 2. GSTR 01A Details
More informationBUSINESS PROCESSES ON GST RETURN
Content provided by Mr. Vineet Bhatia, Advocate BUSINESS PROCESSES ON GST RETURN Proposed returns in the GST regime are quite detailed in nature, with emphasis on cross-matching of data submitted by various
More informationAvailable Functionality for Tax Payers in GST Portal as on
Available Functionality for Tax Payers in GST Portal as on 19.06.2018 # Module / FORM FORM Components/Details Area 1 Registration GST REG-14 Amendments of Core fields 2 Registration GST REG-12 Suo Moto
More informationThe Centre of Excellence for GST. GST: Returns. JULY 09, 2017 ICAI Tower, BKC MUMBAI. CA. Hemant P. Vastani. The Centre of Excellence for GST
GST: Returns JULY 09, 2017 ICAI Tower, BKC MUMBAI CA. Hemant P. Vastani 1 Sections Covering Returns 37. Furnishing details of outward supplies. 38. Furnishing details of inward supplies. 39. Furnishing
More informationTax Liability Ledger, will reflect the total tax liability of a tax payer (after netting) for the particular month.
ELECTRONIC LEDGERS & PAYMENTS Once a tax payer is registered on the common portal GSTN, two e-ledgers Cash Ledger & Input Tax Credit Ledger and an Electronic Tax liability ledger will be automatically
More informationGST: Frequently Asked Questions(FAQs) for Traders
GST: Frequently Asked Questions(FAQs) for Traders Q 1. How will GST benefit the Trading Community? Under GST, a trader would be entitled to avail input tax credit paid on their domestic procurements of
More informationGoods & Services Tax (GST)
Goods & Services Tax (GST) Simplified Content 01 GST Decoded 02 GST Registration 03 GST Payment 04 Frequently asked Questions (FAQs) GST DECODED 1) What is GST? GST stands for Goods and Services Tax. GST
More informationGST Annual Return: Introduction
Annual Return (Relevant Provisions) CGST Act Sections: 35(5), 44 and 47(2) D R Gupta: GSTR-9 CGST Rules Rule: 80 1 GST Annual Return: Introduction GST annual return (i.e. GSTR-9) is be filed by the regular
More informationInstruction for Training Environment
Instruction for Training Environment Trainees can view the steps as mentioned in the help section of the Training environment -> https://trngwww.gst.gov.in/help/helpmodules/ In case above link is not working,
More informationGOODS AND SERVICES TAX RULES, 2017 REFUND FORMS
GOODS AND SERVICES TAX RULES, 2017 REFUND FORMS List of Forms Sr. No Form Number Content 1. GST RFD-01 Application for Refund Annexure 1 Details of Goods Annexure 2 Certificate by CA 2. GST RFD-02 Acknowledgement
More informationGOODS AND SERVICES RULES, 2017 REFUND FORMS
GOODS AND SERVICES RULES, 2017 REFUND FORMS List of Forms Sr. No Form Number Content 1. GST RFD-01 Application for Refund 2. GST RFD-02 Acknowledgement 3. GST RFD-03 Deficiency Memo 4. GST RFD-04 Provisional
More information[Chapter IX] Edition NBC, Chartered Accountants and member of Allinial Global Accounting Association. All Rights Reserved.
[Chapter IX] Edition 7 Contents Furnishing details of outward supplies [S. 37] Furnishing details of inward supplies [S. 38] Furnishing of Returns [S. 39] First Return [S. 40] Claim of input tax credit
More informationDate: # Module / Area. 1 ITC Form GST ITC 04 Facility to fill and save Form ITC-04 online has been made available to taxpayers.
Date:-27-04-2018 1 ITC Form GST ITC 04 Facility to fill and save Form ITC-04 online has been made available to taxpayers. 2 Return To file Amendments In Form GSTR 6, for Input Service Distributors (ISD)
More informationChapter IX Returns Statutory Provision 37. Furnishing details of outward supplies
Chapter IX Returns Statutory Provision 37. Furnishing details of outward supplies (1) Every registered taxable person, other than an input service distributor, a non-resident taxable person and a person
More informationGOODS & SERVICES TAX UPDATE 1
GOODS & SERVICES TAX UPDATE 1 CENTRAL GOODS & SERVICES TAX (CGST) Some sections of CGST Act, 2017 to come into effect from 22.06.2017 Central Government vide Notification No. 01/2017-Central Tax, dt. 19-06-2017
More informationGST for Mutual Fund Distributor Commission - FAQs
GST for Mutual Fund Distributor Commission - FAQs 1. What is GST and when is this effective? Goods and Service Tax (GST) is a single tax rate levied on goods and services at a National level and is effective
More informationCENTRAL BOARD OF EXCISE & CUSTOMS
CENTRAL BOARD OF EXCISE & CUSTOMS GST (Goods and Services Tax) www.cbec.gov.in www.aces.gov.in CENTRAL BOARD OF EXCISE & CUSTOMS Concept of GST Registration g ITC Return PRESENTATION PLAN www.cbec.gov.in
More informationTransitional Provisions
Transitional Provisions Udayan Choksi 17 May 2017 18-05-2017 1 S139 - Migration of Existing Taxpayers» Migration is for Every existing registered person Having a PAN Shall be issued a certificate of registration
More informationWIRC of ICAI. Understanding Annual Returns & Reconciliation Statement. Presented By CA. Kevin Shah
WIRC of ICAI Understanding Annual Returns & Reconciliation Statement Presented By CA. Kevin Shah STATUTORY PROVISIONS Section 35 (5) of the CGST Act, 2017 (5) Every registered person whose turnover during
More informationGST Overview. ~CA Unmesh G. Patwardhan~ Mobile No Unmesh Patwardhan Mobile No
GST Overview ~CA Unmesh G. Patwardhan~ Mobile No.98224 24968 Unmesh Patwardhan Mobile No.98224 24968 1 Brief History & Concept of GST Unmesh Patwardhan Mobile No.98224 24968 2 1 st Jul 2017 The D Day Journey
More information1 Introduction 2 Tax Return 3 Goods and Services Tax Return 4 GST Model Law and Draft GST Rules 5 Outward supplies return (GSTR-1)
Topic 1 Introduction 2 Tax Return 3 Goods and Services Tax Return 4 GST Model Law and Draft GST Rules 5 Outward supplies return (GSTR-1) Page 6 Outward Supply details 7 Post ling of GSTR-1 8 Inward Supply
More informationGST & YOU. Tally Solutions Pvt. Ltd. All Rights Reserved 2. Tally Solutions Pvt. Ltd. All Rights Reserved Business Presentation
WELCOME 1 GST & YOU Tally Solutions Pvt. Ltd. All Rights Reserved 2 Tally Solutions Pvt. Ltd. All Rights Reserved Business Presentation Presentation Agenda GST Basics What is GST Why GST GST concepts How
More informationReturns, Matching Concept, Accounts & Records, under GST Law. Presentation by CA. Gaurav V Save GST Course for CA Students WIRC of ICAI June 07, 2017
Returns, Matching Concept, Accounts & Records, under GST Law Presentation by CA. Gaurav V Save GST Course for CA Students WIRC of ICAI June 07, 2017 Agenda Returns & Matching Concept Accounts & Records
More informationGOODS AND SERVICES TAX RULES, 2017 RETURN FORMATS
GOODS AND SERVICES TAX RULES, 2017 RETURN FORMATS 1 List of Forms Sr. No. Form No. Title of the Form 1 2 3 1. GSTR-1 2. GSTR-1A 3. GSTR-2 4. GSTR-2A 5. GSTR-3 6. GSTR-3A Details of outwards supplies of
More informationKhandhar Mehta & Shah. Concept of Composition Scheme under GST. KMS Intellectus # 2 KMS/GST/ /02
Khandhar Mehta & Shah 1 KMS Intellectus # 2 Concept of Composition Scheme under GST Basic requirements under Composition Scheme Flow chart to decide eligibility Calculation of Turnover Procedural Requirement
More informationFAQ s on Form GSTR-9 Annual Return
FAQ s on Form GSTR-9 Annual Return DISCLAIMER The views expressed in this write up are of the author(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed
More informationRETURNS TIME PERIOD OF FILING RETURN UNDER GST
RETURNS Introduction: Every registered taxable person shall himself assess the tax payable and furnished return for each tax period under Self-Assessment as per Section 57 of the Revised Model GST Act.
More informationॐ सह न ववत सह न भ नक त सह व र य करव वह त जस वव न वध तमवत म ववद ववष वह ॐ श स त श स त श स त
ॐ सह न ववत सह न भ नक त सह व र य करव वह त जस वव न वध तमवत म ववद ववष वह ॐ श स त श स त श स त Om, May God Protect us Both (the Teacher and the Members), May God Nourish us Both, May we Work Together with Energy
More informationDated Aizawl, the 1 st Feb., 2018.
No.J.21011/1/2017-TAX/Vol-III(iv) GOVERNMENT OF MIZORAM TAXATION DEPARTMENT... N O T I F I C A T I O N Dated Aizawl, the 1 st Feb., 2018. In exercise of the powers conferred by section 164 of the Central
More informationAll you should know while filing GSTR - 3B Return
All you should know while filing GSTR - 3B Return Filing of GSTR-3B return is the first formal communication of business transactions with the government machinery in the GST era. It holds lot of importance
More information(Enter PAN of the Business; PAN of Individual in case of Proprietorship concern)
Form GST REG-01 [See Rule -------] Application for Registration (Other than a non-resident taxable person, a person supplying online information and data base access or retrieval services from a place
More informationPresentation on GST Annual Return & GST Audit
Optitax s R Presentation on GST Annual Return & GST Audit 25th Nov 2018 1 1 Legal provisions 2 Legal provision Applicability Section 44 (1) - Every registered person, other than an Input Service Distributor,
More informationS. No. Questions / Tweets Received Replies Registration 1. Does aggregate turnover include value of inward supplies Refer Section 2(6) of CGST Act.
S. No. Questions / Tweets Received Replies Registration 1. Does aggregate turnover include value of inward supplies Refer Section 2(6) of CGST Act. received on which RCM is payable? Aggregate turnover
More informationPayment of tax, interest, penalty and other amounts (Section 49)
FAQ s Chapter VIII Payment of Tax Payment of tax, interest, penalty and other amounts (Section 49) Section 49 of the CGST Act, 2017 made applicable to IGST vide Section 20 of the IGST Act, 2017 and UTGST
More informationTweet FAQs. The tweets received by askgst_goi handle were scrutinized and developed into a short FAQ of 100 tweets.
Tweet FAQs The tweets received by askgst_goi handle were scrutinized and developed into a short FAQ of 100 tweets. S. No. Questions / Tweets Received Replies Registration 1. Does aggregate turnover include
More informationComposition Scheme. CA Yashwant J. Kasar B.Com, FCA, DISA, CISA, PMP, FAIA
Composition Scheme under GST CA Yashwant J. Kasar B.Com, FCA, DISA, CISA, PMP, FAIA 22.07.2017 General Principles applicable to composition schemes In State of Kerala v. Builders Association of India 104
More informationGoods and Services Tax INPUT TAX CREDIT September 22, P V SRINIVASAN Corporate Advisor Mobile:
Goods and Services Tax INPUT TAX CREDIT September 22, 2016 P V SRINIVASAN Corporate Advisor Email: pvs@pvsadvisors.com Mobile: +919845057597 1 Input Tax Credit Key definitions 1. Input : S 2(54): means
More informationREPORT THE JOINT COMMITTEE ON BUSINESS PROCESS FOR GST GST RETURN. Empowered Committee of State Finance Ministers. New Delhi.
REPORT OF THE JOINT COMMITTEE ON BUSINESS PROCESS FOR GST ON GST RETURN Empowered Committee of State Finance Ministers New Delhi October, 2015 Table of Contents 1. Introduction... 4 2. Periodicity of Return
More informationMaster class on GST. Institute of Company Secretaries of India - WIRC. CA Ashit Shah. Shah & Savla LLP. Chartered Accountants
Master class on GST Institute of Company Secretaries of India - WIRC CA Ashit Shah Chartered Accountants Matters to be covered Job work E-Commerce Valuation of Goods and Services Accounts & Records Tax
More informationGOODS AND SERVICES TAX
GOODS AND SERVICES TAX TRANSITIONAL CREDITS AND DEMONSTRATION OF FILING OF TRAN-1 Two days webcast on GST Organised by: Indirect Taxes Committee GENERAL PRINCIPLES RELATING TO TRANSITION a) Every person
More informationDUTIES & RESPONSIBILITIES OF TAX DEDUCTOR UNDER THE GOODS AND SERVICES TAX ACTS
Page 1 of 8 DUTIES & RESPONSIBILITIES OF TAX DEDUCTOR UNDER THE GOODS AND SERVICES TAX ACTS What is GST? Goods and Services Tax (GST) is one indirect tax for the whole Nation, which will make India one
More informationREGISTRATION & RETURNS 18 JUNE, Ashish Kedia
REGISTRATION & RETURNS J B NAGAR STUDY CIRCLE 18 JUNE, 2017 Ashish Kedia MANDATOR RY REGISTRATION 1 Check Schedul le V for liability of registration 2 Check the st tate(s) in which registration should
More informationRefunds. Chapter IX. FAQ s. Refund of tax (Section 54)
FAQ s Refund of tax (Section 54) Chapter IX Refunds Q1. Is the word refund defined in the CGST Act? Ans. Yes, the word refund is defined in explanation to Section 54 of the CGST Act, 2017. As per the said
More informationSuggestions on GST return forms
Suggestions on GST return forms Indirect Taxes Committee THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI INTRODUCTION 1. The Institute of Chartered Accountants of India considers it a privilege
More informationFORM-GST-RFD-01 [See rule 89(1)] Application for Refund
FORM-GST-RFD-01 [See rule 89(1)] Application for Refund (Applicable for casual or non-resident able person, deductor, collector, unregistered person and other registered able person) 1. GSTIN / Temporary
More informationGOODS AND SERVICE TAX RULES, 2017 REGISTRATION FORMS
GOODS AND SERVICE TAX RULES, 2017 REGISTRATION FORMS LIST OF REGISTRATION FORMS 1 Sr. No Form Description Number 1. GST REG-01 Application for Registration (Other than a non-resident taxable person, a
More informationAccounts and Records. Chapter VI. FAQ s. Accounts and other records (Section 35)
FAQ s Accounts and other records (Section 35) Chapter VI Accounts and Records Section 35 of the CGST Act, 2017 made applicable to IGST vide Section 20 of the IGST Act, 2017 and UTGST vide Section 21 of
More informationGOODS AND SERVICE TAX (GST) TRANSITIONAL PROVISIONS COMPILED AND PREPARED BY : CA SAGAR THAKKAR
GOODS AND SERVICE TAX (GST) TRANSITIONAL PROVISIONS COMPILED AND PREPARED BY : CA SAGAR THAKKAR PRESENTATION COVERAGE TRANSITIONAL PROVISIONS UNDER CGST/SGST ACT SEC. 139 TO 142 OF CGST ACT TRANSITIONAL
More informationFAQs. Yes. He is liable for registration as he is engaged in Inter State supplies.
FAQs 1. A registered person s business is in many states. All supplies are below 10 lakhs. He makes an Inter State supply from one state. Is he liable for registration? Yes. He is liable for registration
More informationDILIP PHADKE Chartered Accountant Contact: /
INPUT TAX CREDIT, Relevant definitions Input Service Distributor and Transitional Provision. By DILIP PHADKE Chartered Accountant Contact: 28982388/9322231414 e-mail phadke1952@gmail.com 1 Definitions
More informationUpdates by Tax & Accounting Professional Forum (TAPF) September 2018
Updates by Tax & Accounting Professional Forum (TAPF) September 2018 PREFACE Tax and Accounting Professional Forum (TAPF) is a group of Chartered Accountants, Financial Consultants and Other Professionals.
More information4. Inward supplies on which tax is to be paid on reverse charge
Form GSTR-2 [See Rule..] Details inward supplies goods or services Year Month 1. GSTIN 2. (a) Legal name the registered person Auto populated (b) Trade name, if any Auto populated 3. Inward supplies received
More informationGST NEW REGISTRATION. Presented By:
GST NEW REGISTRATION Presented By: www.yourbm.com support@gsteazy.net +91 98747 01089 Every Supplier having all India AGGREGATE TURNOVER above Rupees 20 lakh needs to be register. (10 lakh if business
More informationGET READY FOR SIMPLIEFIED REFUND UNDER GST
GET READY FOR SIMPLIEFIED REFUND UNDER GST Nyn (Associate member of Team GST Cornor) Provisions of refund of Taxes are very important as delay would adversely impact exporters, manufacturers. In some States
More informationLiability to Pay in Certain Cases
Chapter-XVI Liability to Pay in Certain Cases Sections 85. Liability in case of transfer of business 86. Liability of agent and principal 87. Liability in case of amalgamation or merger of Companies 88.
More informationReports of Joint Committee constituted by Empowered Committee of the State Finance
7 October 2015 EY GST News Alert Reports of Joint Committee constituted by Empowered Committee of the State Finance Ministers on Business processes of payment, registration and refund under GST Executive
More informationTweet FAQs. S. No. Questions / Tweets Received Replies. Registration
Tweet FAQs The tweets received by askgst_goi handle were scrutinized and developed into a short FAQ of 50 tweets. It should be noted that the tweets received or the replies quoted are only for educational
More information